SpotOn targets SMEs with exclusive TSYS deal
Payments and software company SpotOn plans to deepen its presence in the SME market with a multi-year, exclusive agreement with paytech TSYS, reports Jane Connolly.
The San Francisco-based firm wants to expand payments capabilities to merchants. The deal allows SpotOn to improve customer experience and onboarding by having more direct contact with clients.
“Having each spent 20 years in the space, Matt and I firmly believe that TSYS is the perfect partner to help scale our business,” says Zach Hyman, who co-founded SpotOn with his brother Matt Hyman. “We’ve done business with TSYS for more than 10 years and are thrilled to continue and strengthen that relationship.”
Mike Peters, president and EVP of TSYS Merchant Solutions, adds: “TSYS shares in the vision that merchant services has to continue to expand beyond just payment processing. Matt and Zach have a proven track record of being able to successfully scale businesses and we are extremely excited to continue our partnership with SpotOn and support their continued growth.”
SpotOn was founded in 2017 to provide underserved SMEs with best-in-class payments capabilities and software solutions. The company closed a $40 million funding round last month, having acquired two other tech firms – EmaginePOS and Lifeyo – and doubled its support staff and sales in the 12 months.
